You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Snowflake (SNOW) to Post Q4 Earnings: What's in the Offing?
Snowflake (SNOW - Free Report) is set to report its fourth-quarter fiscal 2023 results on Mar 1.
The Zacks Consensus Estimate for the top line is pegged at $571.57 million, suggesting year-over-year growth of 48.94%.
The consensus mark for the bottom line is pegged at earnings of 3 cents per share, unchanged over the past 30 days, narrower than the loss of 12 cents reported in the year-ago quarter.
Snowflake’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 229.17%.
Snowflake Inc. Price and EPS Surprise
Snowflake Inc. price-eps-surprise | Snowflake Inc. Quote
Let’s see how things have shaped up before this announcement.
Factors to Note
Snowflake’s fiscal fourth-quarter results are expected to reflect gains from an expanding clientele and strong partner base.
The company reported 34% year-over-year growth in the number of customers, reaching 7,292 in the previous quarter. It added 28 Forbes Global 2000 customers in the prior quarter.
Snowflake signed 14 customers with $1 million in trailing 12-month product revenues in the previous quarter.
It had 287 customers (with more than $1 million in product revenues), up 94% year over year, in the fiscal third quarter.
Snowflake has also been benefiting from a strong partner base that includes the likes of Amazon, Cognizant and Dell Technologies.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
Snowflake has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Splunk (SPLK - Free Report) has an Earnings ESP of +0.39% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Splunk is likely to release its fourth-quarter fiscal 2023 results on Mar 1. SPLK shares have declined 13.7% in the past year compared with the Zacks Computer & Technology sector’s decline of 19.8%.
AMC Entertainment (AMC - Free Report) currently has an Earnings ESP of +8.86% and a Zacks Rank #3.
AMC shares have lost 67.1% in the past year. AMC Entertainment is set to report its fourth-quarter 2022 results on Feb 28.
CrowdStrike (CRWD - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #3.
CRWD shares have declined 39.9% in the past year. CrowdStrike is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.